Dukascopy is a forex and CFD broker offering online trading services to traders and investors worldwide. The broker provides a diverse range of trading instruments, including Stocks, crypto, indexes, stocks, bond, energy, commodities, and ETF. It also supports multiple trading platforms and tools such as MT4, MT5, FOREX,Apple iOS,Web,Android.
Although Dukascopy is regulated by several authoritative bodies, including FINMA , FSA . it is not regulated by the FCA (Financial Conduct Authority). In this article, we will explore Dukascopy’s regulatory framework, its features, and provide a list of alternative brokers that are regulated by the FCA
Does Dukascopy Operate Under FCA?
No, Dukascopy does not operate under FCA (Financial Conduct Authority) regulations. The broker is regulated by several other reputable financial authorities, including FINMA ,FSA. These regulatory bodies ensure compliance with various standards for financial stability, transparency, and investor protection, though they do not provide the specific protections offered by the FCA in the UK.
What Other Regulations Does Dukascopy Have?
FINMA:
Dukascopy is regulated by the Swiss Financial Market Supervisory Authority (FINMA). FINMA, established in 2009, is Switzerland’s independent financial regulatory body responsible for supervising banks, insurance companies, and financial intermediaries to ensure the stability of financial markets.
FINMA requires Dukascopy to comply with strict standards of financial security, including maintaining sufficient capital, protecting client funds by segregating them from company assets and ensuring transparent and accurate financial reporting. FINMA’s oversight ensures that Dukascopy operates with integrity and reliability, providing a secure trading environment for clients in Switzerland.
FSA (Japan)
FSA regulation refers to the rules and oversight provided by the Financial Services Agency (FSA) of Japan. Established in 2000, the FSA supervises financial institutions including banks, insurance companies, and forex brokers to ensure the stability and fairness of Japan’s financial system. It works to protect investors and maintain confidence in the market.
Financial service providers, such as forex brokers, must be licensed by the FSA to operate in Japan. The FSA enforces strict standards on capital requirements, risk management, and transparency. It requires firms to segregate client funds to ensure their protection and implement robust measures to prevent financial misconduct. By enforcing these regulations, the FSA plays a key role in upholding market integrity and safeguarding investor interests.
Best FCA Regulated Forex Brokers: Alternatives to Dukascopy
Dukascopy is one of the leading forex and CFD brokers. The broker is not regulated by FCA. It is regulated by other top-tier regulators including ASIC, CySEC, FSA, FSCA, SVG. There are several FCA regulated brokers that can serve as alternatives to Dukascopy. These brokers include:
- Founded In: 2010
- Minimum Deposit: $0, Recommended: $200
- Maximum Leverage: 500:1
- Regulations: FCA, ASIC, CySEC, BaFIN, DFSA, CMA, and SCB
- Trading Platforms : MT4, MT5, cTrader, TradingView and Own Trading Platforms
- Trading Instruments: Forex, Commodities, Indices, Currency Indices, Cryptocurrencies, Shares, ETFs, and CFD Forwards.
- Founded In: 2001
- Minimum Deposit: $0, No Minimum Deposit is required. However Chinese and Brazilian traders require a $500 Minimum Deposit.
- Maximum Leverage: up to 1:400 (1:200 for retails traders, 1:400 for Pro account)
- Regulations: FCA, SCB, CMVM, BACEN and CVM
- Trading Platforms : MT4, MT5, ActivTrader, and Tradingview
- Trading Instruments: Forex, CFDs (Shares, Indices, Cryptocurrencies, ETFs, Commodities, Bonds), Spread Battings
- Founded In: 2007
- Minimum Deposit: None
- Maximum Leverage: 500:1
- Regulations: ASIC, SVG, FSA, DFSA,FCA.
- Trading Platforms : MT4, WebTrader, AxiTrading Platform, Copy Trading App
- Trading Instruments: Forex, Shares, IPOs, Indices, Commodities, Cryptocurrencies
- Founded In: 2014
- Minimum Deposit: $100
- Maximum Leverage: 1:500
- Regulations : FCA, CySEC, FSA, FSA (Labuan), and FSCA.
- Trading Platforms : MT4, MT5, WebTrader Platform, MetaTrader for Mac , Tickmill Mobile App
- Trading Instruments: Forex , Stock Indices, Commodities,Bonds, Cryptocurrencies, Stocks
These brokers operate under FCA regulation. According to FCA rules, they offer leverage up to 30:1 and provide investor protection and negative balance protection for retail traders. To learn more about FCA-regulated forex brokers, you can read our content on the best FCA-regulated forex brokers.
How Can I Verify If My Broker is FCA Regulated?
To verify if your broker, such as Dukascopy, is regulated by the FCA, follow these steps:
- Find the Broker’s Reference Number or Name: Obtain this information from the broker’s website.
- Search the FCA Register: Visit the FCA Financial Services Register and enter the broker’s reference number or name.
- Check the Broker’s Authorization: Ensure that the broker is authorized to provide “Rolling spot forex contract” services to retail customers in the UK.
- Match Firm Details: Verify that the details on the FCA website, such as the broker’s website and email, match those provided by the broker. Any discrepancies might indicate an unauthorized broker, and you should avoid trading with them.
Frequently Asked Questions ( FAQs)
What is Dukascopy?
Established in 2004, Dukascopy is a Swiss-based online forex broker with headquarters in Geneva, Switzerland, and international offices in Japan and Latvia. The broker has held a Swiss bank license since 2010. Dukascopy offers MT4, MT5, and its own proprietary trading platform named JForex. Regulated by FINMA (Switzerland) and JFSA (Japan), the broker is renowned for its advanced trading technology and transparent pricing model. Dukascopy supports various trading strategies like scalping, hedging, and news trading, and also provides PAMM accounts. Moreover, it offers a range of educational resources to assist traders in enhancing their skills.
Is Dukascopy Considered Safe?
Yes, Dukascopy is considered safe. The broker is regulated by multiple top-tier regulatory authorities, including FINMA ,FSA. It offers negative balance protection and holds client funds in segregated bank accounts. Additionally, Dukascopy provides an investor protection scheme for clients regulated under FINMA ,FSA making it a reliable and trustworthy broker.
Does Dukascopy Offer Negative Balance Protection?
Yes, Dukascopy offers negative balance protection. All FCA-regulated brokers must offer negative balance protection. Negative balance protection means that traders are protected from losing more money than they have in their trading accounts. If a trade results in losses that exceed the amount of funds in the account, negative balance protection ensures that the trader’s balance cannot go below zero. This prevents the trader from owing the broker any additional money.
Is Dukascopy Regulated in the UK?
No, Dukascopy is not regulated in the UK. However, the broker accepts clients under its global entity, (Dukascopy LLC). Dukascopy is regulated by other top-tier authorities, such as ASIC, CySEC, and FSCA, ensuring a high standard of compliance and investor protection.
Does Dukascopy Offer an Investor Protection Scheme?
Yes, Dukascopy offers an investor protection scheme for clients under the FINMA ,FSA jurisdictions. This protection covers eligible investors in case of broker insolvency or other issues. ASIC-regulated clients benefit from stringent Australian financial laws, while CySEC offers protection in line with European Union regulations, ensuring added security for traders within these regions.
Is Dukascopy Regulated in the EU?
Yes, Dukascopy is regulated in the EU through its license with CySEC (the Cyprus Securities and Exchange Commission). Since CySEC is an EU regulator, Dukascopy follows the European Union’s strict standards, including client fund protection and transparency. It also complies with MiFID II regulations, ensuring a high level of oversight and security for European traders.
